Princeton Management in Detroit, MI

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Tips & Advice

How long does it take to build a house?

The time it takes to build a house varies, with the average time of the construction being 6-7 months from the time the permits are approved. If a customer chooses a personalized production home in a development, the construction phase can take only 4-5 months. Custom homes take longer, for a few reasons: before the permits are approved, the custom design, floor plans and pre-construction process has to be complete, and this alone can take a few months. Getting financing and choosing a contractor can also add time to the process.All home builds can be delayed due to weather, permit and inspection delays, waiting on construction material supplies, and disagreements between homeowner and contractor on design details.

Is it cheaper to build rather than buy a house?

It is not easy to figure out whether it’s cheaper to build a new house rather than buy. Industry reports show that the final price of a new construction home is significantly higher than buying an existing home. However, this isn’t necessarily an accurate side-by-side comparison, since new builds tend to be larger, more energy efficient, and more customized in terms of features and materials. Pre-existing homes will often end up requiring significant repairs, and ongoing upkeep.

What is a general contractor?

A general contractor is a company or individual that oversees an entire construction process and is responsible for pulling permits, liaising with inspectors, hiring subcontractors, working with homeowners and designers, and handling day-to-day oversight on the construction site.

How much does it cost to build a new house?

The cost to build a new house varies widely and is affected by many factors including the market, the specific location, the size of the house, what kinds of materials will be used, and what kinds of special features will go into the house. To get a better idea for price of new homes, start by researching comparable new builds in the area and neighborhood you’re interested in buying. Speak with architects and builders in your area. Also, read local blogs and trade websites. In general, the cost per square foot of a new development is $150.

How to choose a home builder

Choose a home builder based on their reputation for quality work, their style (it should match what you want in a home), their price, how busy they are, and how well they listen to and understand your needs. Take lots of time to research and interview. Read plenty of articles and profiles, ask people you trust for their recommendations, and ask your potential builders as many questions as you need to before committing. This is a major decision and above all you should not feel rushed or boxed into a decision.

What are the benefits of hiring a property management company?

Some of the key benefits of hiring a property management company include:

Better tenants: The best property management companies are skilled at tenant screening. This can help you attract a higher caliber of tenants to your building. Effective tenant screening can bring in tenants who are more likely to pay their rent in a timely fashion, and who are more likely to remain long-term residents of the building. Screening can also provide you with tenants who are less likely to damage the rental property.

Shorter vacancy cycles: If a tenant moves out, it can take awhile to find a qualified replacement. It's in your best interest to keep this vacancy cycle as short as possible, since you won't be earning any money from an empty unit. Skilled property managers can handle the process of finding a replacement tenant quickly and effectively. This results in shorter vacancy cycles.

Freedom from the day-to-day responsibilities associated with property management: If you manage a property yourself, you'll have to deal with things like rent collection, tenant complaints, and maintenance and repair issues. These responsibilities can be bothersome and time-consuming. Hiring a property management company will help you avoid having to deal with these tasks on a daily basis.

Reduced tenant turnover. Tenant turnover can impact the profitability of a rental unit. The best property management companies know how to keep their tenants happy, and happy tenants are a lot less likely to move out of the building and a lot more likely to take reasonable rent increases in stride.

How to find a property manager?

Use the following steps to find and hire a property manager:

Get referrals, or conduct an online search: Start by getting referrals from sources you trust. Be sure to get referrals from multiple sources to avoid bias. You can also conduct an online search to find property management companies that are based in your area.

Check for ratings, reviews, and complaints: Once you're built a list of candidates, check with the Better Business Bureau to see if complaints have been lodged against any of the companies. It's also wise to visit third-party review sites to see what types of ratings and reviews each company has received.

Look at each company's current work. After weeding out those companies with credible complaints and poor reviews, look at the current work of the companies that remain on your list. Evaluate the ads posted by these companies; you'll want to work with a company whose ads project professionalism. Visit buildings managed by these companies, and speak with the tenants. The best property management companies have tenants who are happy with the services they provide.

Conduct interviews with the top candidates: Next, conduct interviews with the property managers who remain on your list. Look for a company with staff members who are responsive to your questions and open to hearing about your priorities and concerns.

Check licensing: At this point, you should have a favorite or two. Before signing on the dotted line, verify that the company is licensed to manage property in your state. In most states, a real estate broker license is required, while a few states require a property management license.

Carefully review the agreement: Once you've been presented with a property management agreement from the company you've chosen, check to make sure it explicitly includes all the duties and responsibilities you'd like the property management company to handle.

Does property management require a license?

In most states, property management requires a real estate broker license. To obtain this license, you need to have a high school diploma or its equivalent, along with at least two or three years of real estate experience. Classes in real estate education are required, as well as passing a real estate broker's exam.In a handful of states, a specific property management license is required before someone can legally manage property. This license is required in Montana, Oregon, South Carolina, and South Dakota.

How much do property management companies charge?

The rates charged by property management companies vary depending on the services provided, and location may also impact the fees charged. Most property management companies charge a rate that totals 8 percent to 12 percent of the property's rental value. Others might charge a flat fee that has nothing to do with rental value, and instead relates to the range of services provided. Property management companies might charge an extra fee for services such as tenant placement and eviction.

What is the job of a property manager?

A property manager is a professional hired by a property owner to handle the day-to-day management of a rental property. A property manager sets rental rates and collects rent from tenants, and is also responsible for finding and screening tenants. Property managers handle property-related maintenance and repair issues, and they can tackle responsibilities related to tenant move-outs, evictions, complaints, and emergencies.

I have been living in Bonnieview since the big changes back in 2015. Not only is Ms. Adams (the leasing manager) the best, but she is understanding. Apartments are updated. Great closet space. The grounds look amazing! From the landscaping to the pool everything looks great! Only downside in no more fence surrounding the complex. I cant speak for all the other buildings, but the people in my building are great. We look out for each other.

Poor Maintenance. Slow to fix problems and when they finally come the workers will steal your property. Never give permission to enter when you are not home. Had hundreds of dollars in tools stolen from me when I finally gave permission to enter. Problem not fix, Ilost tool and other petty things!!! Beware

A bunch of thieves they took part of my money to buy materials for a different job they were working. The workers were never on time or didn't show up at all in my basement was never finished. Do not use this company.

I lost EVERYTHING here because of BLACK MOLD. First, black mold began growing under the bathroom sink from a pipe that we did not know was leaking. Then mold started growing in the bedroom closet on the wall. The mold grew up the walls and spread to EVERYTHING in the closet. All of my purses, shoes, blankets, shelves, and even my husband's wedding suit was covered in either green or black mold. Then the mold spread into the bedroom. It grew on my mattress, bed frame, tables, EVERYTHING.I wrote a letter to the manager describing everything. She said that maintenance would come look at the apartment. NO ONE EVER CAME. After a week, i found out i was pregnant. Now I became even more worried because i knew living in black mold would not be good for my baby. I wrote a second letter and took it to her. She told me that we could move into another unit in one week after they got it ready. A week passed and we did not hear from anyone. I went to her and she said that we COULD NOT MOVE because the "new manager" (some man she would not even let us contact, or even tell us his name) said we couldn't get another unit. The most he was willing to give us was one month free rent while we wait for maintenance to fix the busted pipe in the wall that was causing the mold growth in MULTIPLE APARTMENTS. MAINTENANCE COULD NOT EVEN MAKE IT TO LOOK AT ALL THE OTHER THINGS WRONG IN THE APARTMENT WHY WOULD I WAIT FOR THEM TO FIX A PIPE THAT WAS ALREADY BUSTED FOR MONTHS? the health inspector said this was NOT the first time the building had a mold issue. My husband and i worked HARD for everything we lost in that apartment. We are a young couple just trying to make it out here and they PLAYED US! I CRIED as i threw away bags and bags of things that i could not get the mold off of. They "allowed" us to break the lease and move out of THEIR UNINHABITABLE apartment in 30 days. THE WORST PART IS THAT THEY KEPT ALL OF OUR MONEY INCLUDING THE SECURITY DEPOSIT.!!!

*BUYER BEWARE: These apartments are NOTHING like the pictures loftpace.com posts on their website! Even if you are considering another property, know that there are currently three class-action lawsuits in place against this company.*We (my husband, our then 15-month old son, myself, and our dog) moved into the John R Apartments in October of 2013, from out-of-state, needing immediate residence. There were several issues with the unit that we reported on our move-in condition form. For starters, the apartment was absolutely FILTHY. We spent days scrubbing grease and grime off of every surface, especially the kitchen cupboards, floor, and stove. There are two windows that do not close completely, one window pane that has a crack running across it, several broken outlets, a running toilet, and our stove is missing parts. None of these issues have ever been addressed, despite persistent complaints. In November, we noticed that the heat was not working at all. We were told to buy a space heater for which we would be reimbursed $50 off of our next month’s rent. Since the heat has been on and working, it has never been sufficient. The space heater has to be on for the bedroom to be a bearable temperature. By the end of December, not even the space heater set on high AND the unit heater (which we were still told was ON and WORKING) together could keep our bedroom warm. We ended up blocking off the bedroom completely and moving into the living room, bed and all. Further complaints were made, not only by us but by several tenants, but no action was taken. In the beginning of January, I entered the bedroom to feed my fish, and found that the 3-gallon tank had frozen solid, even though it was pushed up against the unit heater. Again, we complained and were told that the heat was on and working. We submitted a letter stating that we were withholding rent until our apartment was made livable. That same day, the water stopped working (due to burst pipes- which wouldn’t have happened if the building was properly heated), and the power went out. We were forced to leave for safety reasons and have not yet been able to return.A few days later, pipes burst in our ceiling. We were contacted by the management and asked to get there as soon as possible. The damage is extensive and also poses an electrical hazard. A maintenance team was called in to assess the damage. When they entered, water was actively leaking from the ceiling and walls. They ripped the stove from the wall, still plugged in and hooked to the gas line, and cut a large hole in the wall behind it. The piece of wall that they cut away was discarded in our bathtub, along with a piece of wood removed from the bathroom ceiling and a small cutout from the kitchen/living room area. No further “repairs” were made that day, and none have been made to date. The maintenance team made no effort to clean up after themselves, and didn’t put the stove back either. We were recently mailed an eviction notice for nonpayment of rent. This has been the company’s only response to our situation. As of January 28, 2014, our apartment has been completely unlivable for 21 days. Despite our repeated complaints and phone calls, we have not been given any estimate on when our apartment will be livable again, or when any repairs will begin.

ms. adams is the best landlord ever she worked with me when I was down on my luck and genuinely cared for me and my lids. I don't know no other apartment complex that would do this for anyone. Thanks her nickname is be "THE MOTHER OF BONNIEVIEW" because she made sure me and my kids kept a place to stay like I was her family. again thank you you are a true angel sent from heaven. Yall will see what i'm talking about love you Ms. Adams

I just read about another fire at the apartments. My building caught fire there in 2013 and the manager did not help me relocate and they had the nerve to keep my rent and deposit despite not having a place to live and the fire being in no way my fault! Atrocious management... Very disrespectful... Praying for those in the fire... Infinity will surely not help you... They didn't us! Disgraceful management!!!!